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Depending upon the language in the bid proposal, a subcontracting construction company could make its bid final, and, if accepted, a legally enforceable contract is created. In these circumstances, upon determination by the general contractor that a bid is the lowest offer, it can accept the bid and, upon acceptance, a subcontractor cannot ...
Such an offer (bid), when accepted by the fall of hammer or in some other customary way, will result in a (binding) contract. A contract is a legally binding voluntary agreement formed when one person makes an offer, and the other accepts it.
In 1983 the current licence was due to expire, and the council sent out letters to seven organisations, including the Aero Club, inviting new tenders to a licence to operate light and heavy aircraft from the airport, requiring a reply to be at the Town Hall 'not later than 12 o'clock noon on Thursday 17 March 1983'. [2]
The court held that Mr Cave was entitled to withdraw his offer at any time before the auctioneer accepted it. The auctioneer's request for bids was an invitation to treat, and each bid constituted an offer which could be withdrawn at any time until it's accepted, and finally, the fall of the auctioneer's hammer constituted acceptance of the highest bid.
A tender announcement from the Indonesian Ministry of Finance. An invitation to tender (ITT, also known as a call for bids [1] or a request for tenders) is a formal, structured procedure for generating competing offers from different potential suppliers or contractors looking to obtain an award of business activity in works, supply, or service contracts, often from companies who have been ...
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Yet these BLs are not accepted if the payment method is LC (Letter of Credit). Charter-party bill of lading, for a sulfuric acid bulk cargo. A straight bill of lading is used when payment has been made in advance of shipment and requires a carrier to deliver the merchandise to the appropriate party.
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